Prudential Financial Inc. said Wednesday it raised about $970 million in net proceeds from a common stock offering, in line with expectations when the company priced the offer last week.
Proceeds from the public offering of more than 18.3 million shares will help cover costs from Prudential's previously announced acquisition of AIG Star Life Insurance Co. and AIG Edison Life Insurance Co. Prudential is buying the two Japanese life insurance units from American International Group Inc. in a $4.2 billion deal announced in September.
Newark-based Prudential announced results of the stock offering after its shares rose 60 cents, or about 1.1 percent, to close at $53.86.
http://www.bloomberg.com/news/2010-11-17/prudential-stock-offering-raises-970-million.html
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The numbers are in and it’s a success for Prudential, only $30 million of their target but share prices rose also to offset this small blip. Good look to Prudential in their new venture.
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